Software developer Bentley Systems aims for near $5 bln IPO valuation

Sept 15 (Reuters) - Bentley Systems Inc said on Tuesday it was aiming for an initial public offering that could value the software developer at about $4.96 billion, with selling stockholders cashing out $204 million in stock.

Selling stockholders would offer 10.75 million shares priced between $17 and $19 per share. Bentley will not receive proceeds from the offering, it said in a filing. (

The company, which is looking to list its shares on the Nasdaq under the symbol “BSY”, will have a dual-class share structure upon completion of the offering, according to the filing.

Bentley, which was founded in 1984, provides software solutions to clients in the infrastructure segment including engineers, architects and geospatial professionals.

Goldman Sachs & Co, BofA Securities and RBC Capital Markets are among the underwriters for the IPO. (Reporting by Niket Nishant and Abhishek Manikandan in Bengaluru; Editing by Vinay Dwivedi)